NZ Racing Board gets World Cup Football betting boost

The New Zealand Racing Board reported a net profit of NZ$137.0 million (US$108.74 million), a rise of 0.2 percent in the financial year ending 31st July, 2014, helped by betting on the football World Cup.
The board reported record turnover of NZ$2.08 billion.
NZRB Chief Executive Officer (Acting) Stewart McRobie says while it had been "a mixed year" for the NZ Racing Board, the highly successful World Cup tournament boost betting turnover to $32.3 million. It was the TAB’s "biggest ever" betting event. Betting and Gaming grew by 6.8 percent and 6.5 percent respectively.
McRobie said turnover growth from domestic customers was running over three times higher than the compound average of the past four years, a long term negative trend now starting to reverse.
But some positive improvements had been offset by a significant appreciation of the New Zealand dollar against the Australian dollar.
Key initiative projects, broadcasting and the mobile app, had cost more and taken longer to execute, although the Board expected to see benefits from these projects in the future.
The three Racing Codes – New Zealand Thoroughbred Racing, Harness Racing New Zealand and Greyhound Racing New Zealand – and the racing industry, received NZ$137.4 million from the Board's operations, while NZ$5.0 million was paid or provided for distribution to National Sporting Organizations. A further NZ$2.3 million was paid to other sporting bodies from gaming activities.